BEIJING, May 17, 2012 /PRNewswire-Asia-FirstCall/ --
China Shen Zhou Mining & Resources, Inc. ("China Shen Zhou" or the "Company") (NYSE AMEX:
SHZ), a Company engaged in the exploration, development, mining and
processing of fluorite, barite, zinc, copper, and other nonferrous
metals in China, today announced
that SRK Consulting China Ltd. ("SRK") has completed field work as
part of a comprehensive process to complete a reserve assessment
report of Xinyi Fluorite Company Ltd. ("Xinyi"), a subsidiary of
the Company based in Jingde County, Anhui
Province.
Having acquired Xinyi and its fluorite assets in January 2011, China Shen
Zhou subsequently began additional drilling and collected
more technical datasets. In October
2011, the Company contracted SRK to produce an independent
and professional mining assessment report on Xinyi's fluorite
reserve and production status. SRK recently completed field work
such as supplementary drilling and sampling verification. Technical
indicators generated from the sampling data are encouraging so far
and suggest good potential for Xinyi's reserve.
It is expected that the SRK will provide a complete JORC
compliant technical report containing mineral resource quantity and
ore reserve specifications by the end of 2012. SRK completed an
independent assessment of the Sumochaganaobao Fluorite Mine ("Sumo
Mine") resource located in Inner Mongolia Autonomous Region in
January 2011, the SRK report is now
available on the corporate website:
http://www.chinaszmg.com/pdf/SCN230_Report_Sumo_Fluorite_Mine_110718.pdf
About JORC Code
The JORC Code has been adopted by The Australasian Institute of
Mining and Metallurgy ("The AusIMM") and the Australian Institute
of Geoscientists ("AIG") and is therefore binding on members of
those organizations. It is endorsed by the Minerals Council of
Australia, and the Securities
Institute of Australia as a
contribution to good practice. The JORC Code has also been adopted
by and included in the listing rules of the Hong Kong Exchanges and
Clearing Limited (HKEx). It is an 'acceptable foreign code' of
National Instrument 43-101 Standards of Disclosure for Mineral
Projects (NI43-101) 2011 edition.
About China Shen Zhou Mining & Resources, Inc.
China Shen Zhou Mining & Resources, Inc., through its
subsidiaries, is engaged in the exploration, development, mining,
and processing of fluorite, barite and nonferrous metals such as
zinc, lead and copper in China.
The Company has the following principal areas of interest in
China: (a)fluorite extraction and
processing in the Sumochaganaobao region of Inner Mongolia; (b)
fluorite and barite extraction and processing in the Wuchuan County
of Guizhou province (c) fluorite
and barite extraction and processing in the Yanhe County of Guizhou
province; (d)fluorite extraction and processing in Jingde County,
Anhui Province; (e) zinc/copper/lead processing in Wulatehouqi of
Inner Mongolia; and (f) zinc/copper exploration, mining and
processing in Xinjiang. For more information, please visit
http://www.chinaszmg.com/.
Safe Harbor Statement
This press release may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements. Forward-looking statements can be identified by the use
of forward-looking terminology such as "will", "believes",
"expects" or similar expressions. These forward-looking statements
may also include statements about our proposed discussions related
to our business or growth strategy, which is subject to change.
Such information is based upon expectations of our management that
were reasonable when made but may prove to be incorrect. All of
such assumptions are inherently subject to uncertainties and
contingencies beyond our control and upon assumptions with respect
to future business decisions, which are subject to change. We do
not undertake to update the forward-looking statements contained in
this press release. For a description of the risks and
uncertainties that may cause actual results to differ from the
forward-looking statements contained in this press release, see our
most recent Annual Report filed with the Securities and Exchange
Commission (SEC) on Form 10-K, and our subsequent SEC filings.
Copies of filings made with the SEC are available through the SEC's
electronic data gathering analysis retrieval system (EDGAR) at
http://www.sec.gov.
Contact Information
Min
Liu
Investor Relations
Grayling
Tel: +86-186-6537-8749
min.liu@grayling.com
Shiwei Yin
Grayling
Tel:
+1-646-284-9474
shiwei.yin@grayling.com
SOURCE China Shen Zhou Mining & Resources, Inc.